Dorsey & Whitney Trust CO LLC Purchases 327 Shares of Amgen Inc. (NASDAQ:AMGN)

Dorsey & Whitney Trust CO LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,132 shares of the medical research company’s stock after acquiring an additional 327 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Amgen were worth $4,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter worth $29,000. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter worth $25,000. Synergy Investment Management LLC bought a new stake in Amgen in the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter worth $36,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $324.86 on Friday. The firm has a market cap of $174.52 billion, a P/E ratio of 43.03, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock’s fifty day moving average price is $286.14 and its 200-day moving average price is $299.89.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 2.93%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insiders Place Their Bets

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Wolfe Research initiated coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.95.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.